20-Unit Brick Apartment
For Sale
$3,300,000
118 Cottage St, Buffalo, NY 14201
Historic multifamily buildings overlook Days Park and include gated access with dedicated off-street parking.
Property Size23,575 SF
Price / SF$139.98
Days on Market47
Property Features for 118 Cottage St
General Information
Standard status
Active
Size
23,575 SF
Total Parking Spaces
26
Property subtype
Multi-Family
Site & Location
Neighborhood
Lower West Side
Units
Unit Mix
9 x 1BR/1BA, 5 x 1BR/1.5BA, 1 x 1BR/2.5BA, 2 x 2BR/1BA, 2 x 2BR/1.5BA, 1 x 2BR/2.5BA
Multifamily Units
20
Amenities
gated entry
Building Details
Year Built
1900
Buildings
3
Construction
brick
Listing Agency:
Gurney Becker & Bourne
Listed By:
Carmelo A Parlato · License #10401209029
(716) 335-2227
Source:
Skinnercnyrealty
Added: Sep 12
Changed: Oct 25
Last Checked: Oct 7 at 4:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gurney Becker & Bourne
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Investment Insights
Based on property information with market context.
The Cottage Street Lofts comprise three brick apartment buildings totaling 20 residential units and 23,575 square feet. Constructed in 1900, the properties feature Italianate architecture, gated entry, and parking for 26 vehicles. Unit layouts include one- and two-bedroom apartments, with select residences offering two-story designs, 1.5 or 2.5 baths, balconies, or porches.
The buildings overlook Olmsted-designed Days Park and sit within the Allentown Historic Preservation District. Their Cottage Street location is within walking distance of the Buffalo Niagara Medical Campus. The offering includes 118, 120, and 126 Cottage Street in Buffalo, New York, with a mix of unit configurations across the three structures.
The buildings overlook Olmsted-designed Days Park and sit within the Allentown Historic Preservation District. Their Cottage Street location is within walking distance of the Buffalo Niagara Medical Campus. The offering includes 118, 120, and 126 Cottage Street in Buffalo, New York, with a mix of unit configurations across the three structures.
Key Highlights
- 20 residential units across 118, 120, and 126 Cottage Street
- 23,575 square feet across three brick apartment buildings
- Parking for 26 vehicles with gated entry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$215,460
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,309,200
$4.3M
Cap Rate 7%
$3,078,000
$3.1M
Cap Rate 9%
$2,394,000
$2.4M
Market Conditions
NOI Build-Up for 23,575 SF
Gross rent
$410.2K $17.40/SF
− Vacancy
−$18.5K −$0.78/SF
EGI
$391.7K $16.62/SF
− OpEx
−$176.3K −$7.48/SF
NOI
$215.5K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,309,200
Cap Rate 7%
$3,078,000
Cap Rate 9%
$2,394,000
Alternative Uses
Best Use
Apartment 5plus
$3.08M
$2.69M – $3.59M
NOI $215,460 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.67M
$4.96M – $6.61M
NOI $396,852 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
3,399
Businesses Nearby
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Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Historic multifamily buildings overlook Days Park and include gated access with dedicated off-street parking.
Where is this apartment building located?
The property is located at 118 Cottage St Buffalo, NY.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 20 residential units across 118, 120, and 126 Cottage Street; 23,575 square feet across three brick apartment buildings; Parking for 26 vehicles with gated entry
